Exploding demand, high premium
"Zebpay, one of India’s Bitcoin exchanges, has over 500,000 downloads of its mobile app and is adding about 2,500 new users every day."
The scarcity of Bitcoins in India has resulted in Bitcoin being traded at a significant premium. The Bitcoin price in India touched INR 225,000 (~$3,500) before declining slightly. International users cannot arbitrage the demand for Bitcoins in India due to capital controls and foreign exchange regulations.
Exchanges overwhelmed
So how are exchanges coping with this overwhelming demand?
Zebpay urged investors to be cautious while buying Bitcoins, citing the high volatility
Zebpay tweeted “Bitcoin prices are very volatile right now. Please use caution when investing. This is a new technology innovation on a global but early stage. Your investment should match your knowledge. Be safe!”
However, this didn’t have the intended effect on Bitcoin investors. Zebpay later introduced a daily limit of INR 50,000 (~$780) on Bitcoin purchases.
Zebpay tweeted:
“Dear user, we have put temporary buy limits of Rs 50,000 per day due to the shortage of Bitcoin stocks. These limits are temporary and will be revised as market conditions change.”
The situation was no different at other Bitcoin exchanges. Coinsecure, one of India’s leading exchanges was down, citing the exponential growth of users causing stress on the Company’s systems. The company expects the downtime to continue over the next few days. Visitors to the website were greeted with the following message.
Letter
500,000 downloads in a country of a billion people, umm that's .05% of the population. I'm not saying Bitcoin isn't getting more interest but let's go easy on the 'explode' shall we. |
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Meh... Relax, OP... As someone who is heavy into NEM and now own xtrabytes, it will take time to build awareness. Buy some more and enjoy The opportunity to buy cheap.
I'm building it right now? You are the reason I want better people involved and not price suppressing scam heads from Yobit like you. Oh yeah I nearly forgot don't fucking talk to me like that you Fuckhead or I'll rip your eyes out and shove them up your punk kid ass. did you read a different post to everyone else? I've had run ins with that prick before saying the project needs to be closed source, just wants to suppress the price. And don't anyone tell me to relax I'll do what the fuck I want. If some kid said Meh and relax in the real world they would have a trip to the hospital. |
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Meh... Relax, OP... As someone who is heavy into NEM and now own xtrabytes, it will take time to build awareness. Buy some more and enjoy The opportunity to buy cheap.
I'm building it right now? You are the reason I want better people involved and not price suppressing scam heads from Yobit like you. Oh yeah I nearly forgot don't fucking talk to me like that you Fuckhead or I'll rip your eyes out and shove them up your punk kid ass. |
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I've never seen a coin with this much revolutionary technology be completely unknown for more than like a week on this forum. Normally things like this go viral in days on here. XtraBytes deserves your attention. Completely revolutionises how the blockchain works and solves ALL the current problems with crypto. NO POW, NO POS, NEW code, 100% cast iron can't be hacked 51% attack solved, scalable and fast due to chords consensus combined with Static nodes built into the chain. Nothing like this in Crypto and I didn't see anyone talking about it, Wtf? This gives some basics. https://medium.com/@xxxxxxxddfeutt/how-the-xtrabytes-blockchain-works-69979081bf42You have the reason for your conclusion which I am not disputing but if the developers don't want us to know about it by not creating a thread here, how are we suppose to go and start scouting for information on the net with no one to provide answers when needed. If the developers are interested in carrying us along, then a thread needs to be created in that regard and be ready to provide answers to requisitions accordingly. I posted the link of the thread in above post? The slack is where the community is exploding most dont use the thread much. The developer is pretty busy and deaf, our other leader relays questions and info. Just be aware this a community project, no premine so no budget so go easy of the graphics they will improve in time. Here's the link again. https://bitcointalk.org/index.php?topic=1864397.0 |
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So I have a large amount of Bitcoin I want to move to USD or another 'safe' fiat temporarily. Do people recommend the best ways to do this? What are liquid platforms that won't ask for my bank details etc.
This question is asked here before and there`s no good answer. There are no liquid platforms that won`t ask for your bank details. I wouldn`t sell my bitcoins right now. I thought Ripple platform had a decent USD dollar liquidity? Would they need a bank account? I don't want to actually sell and move to a bank I just want to shelter temporarily in some kind of USD token. |
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So I have a large amount of Bitcoin I want to move to USD or another 'safe' fiat temporarily. Do people recommend the best ways to do this? What are liquid platforms that won't ask for my bank details etc.
Mate if you want verifiable liquidity and no identity at the same time... That's just not going to happen. I suggest you use advcash or perfectmoney to temporarily store your fiat. The spreads are lower compared to other payment processors such as paypal and payza which means that you can buy and sell whenever you want. All fees added up it'll still total a good 6-7% total though. So if you are sure that you want to do this because you believe that bitcoin is going to drop a further more than 6-7% then go ahead. Otherwise there is no point as all your savings will be eaten up by fees and exchange spreads. Uphold offers accounts that also are of USD value or any other fiat currency actually but the exchange rates are quite high. Also there is a $1000 limit on transactions until you verify yourself so might not be the best option for you. Just off the top of my head I know of at least one or two platforms that store fiat as part of its decentralised platform, Bitshares for one. So you're wrong. But I'm asking cause I don't really know which options are out there and which have the best liquidity etc. If you don't know something don't post. top tip. |
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Find a tax haven like Singapore?
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Guys, i made a small fortune in altcoin/bitcoin. In which country should i settle ?
I have no wife, no kids, just a girlfriend, i´m free to go wherever i want (she´ll go with me).
But it has to be a bitcoin-friendly country.
I have no intention to buy lambos, just a peaceful life.
Thanks.
Oh, and my age is 53, that makes a difference too.
Italy or Spain. The weather is good. Europe in general is Bitcoin friendly. If you retire to the country side, you can lead a peaceful life. European Union Bitcoin friendly. Foooooooorget about it. |
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So I have a large amount of Bitcoin I want to move to USD or another 'safe' fiat temporarily. Do people recommend the best ways to do this? What are liquid platforms that won't ask for my bank details etc.
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I've never heard of it, which might be part of the problem. If they've kept some of the coins or had a presale, they should invest a bit of it in marketing IMO. Just a little awareness goes a long way.
There is no budget for marketing. The plan is for node owners to give a percentage of their fee profit for it. It's a community raised project with zero premine. It might look like it's under the radar but we have 500 people in the slack after a few weeks. Community is exploding. |
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To the OP of this thread: whenever you make your next XtraBytes thread, that's when. How many does this make now?
I'll stop when people get a chance to look and decide for themselves....some here want to hide info about this coin to push price down and accumulate. That shit needs to end. At very least people need to know about this innovation in crypto world. How has a new way to make a blockchain since Bitcoin not even discussd on a crypto forum? As you can see from second post, most have never heard of it. |
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I've never seen a coin with this much revolutionary technology be completely unknown for more than like a week on this forum. Normally things like this go viral in days on here. XtraBytes deserves your attention. Completely revolutionises how the blockchain works and solves ALL the current problems with crypto. NO POW, NO POS, NEW code, 100% cast iron can't be hacked 51% attack solved, scalable and fast due to chords consensus combined with Static nodes built into the chain. Nothing like this in Crypto and I didn't see anyone talking about it, Wtf? This gives some basics. https://medium.com/@xxxxxxxddfeutt/how-the-xtrabytes-blockchain-works-69979081bf42 |
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XtraBYtes is the big one. No other coin can boast it's technology. Static nodes, virtual chords framework completely revolutionise the blockchain. 100% can't be hacked, no POW, no POS.
This is the biggest thing I've seen for a few years and its still unheard of.
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I'll stop saying sock puppets when every other post is from a newbie poster but apparently they have a complete knowledge of the crypto world and want a close source project...face palm.
And doctorG you can stop encouraging them in their bullshit, a guy saying we are deleteing his posted in an unmoderated thread....fuck off.
And for the millionth time if you want to follow this coin closely and not ask the same fuckog question that has been answered a million times then join the fucking slack.
This guy and the newbies.... Substance in terms of development, structure and information are what will move this project up the list, people asking about these is a GOOD thing because when the answers come there will be people to notice IF you havn't frightened them all away. I'm sorry to break this to you but your feverish hopes / dreams / faith are counterproductive and do nothing but create more friction going forward, just take a step back, gather some patience and be polite to would be investors. The fact is you have little to show at this time, but as more trickles in you want people to be around to see it, NOBODY is interested in buying just because you want to make a million dollars from their money on ten of yours. I don't care if you don't buy XBY, others will. Its not my problem. And no one deleted his posts as everyone knows you can't delete unmoderated threads...the only people that can do that is bitcointalk mods and the poster himself. What are brain damaged defending someone who is lying? You still sound like the public boy who swallowed a dictionary by the way. lol And im not fucking anything to do with leadership team of this coin. Just an investor like you fuckwad. Do you think this coin needs you? Lo how entitled can someone be?lol. If a project is awesome like this is you need this coin...dont get things aroind the wrong way. Is this last paragraph aimed at me WanksockTrader? Shut up, let others speak. The entire thread is filled with your bleating. If this thread needs content then it should come from the DEV's not you. No I was obviously talking to the person I quoted??!?? Ah so that's your sockpuppet and you forgot to logout. Hilarious... So now you are telling people on here they have to meet here and not on slack? Bizarre. |
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I have buy this coin because I believe it will be successful.
Welcome to the community. If you havent already i highly recomend you join the slack cause thats really where the community lives on this one. The community has already grown to 500 slack members in one month. |
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I'll stop saying sock puppets when every other post is from a newbie poster but apparently they have a complete knowledge of the crypto world and want a close source project...face palm.
And doctorG you can stop encouraging them in their bullshit, a guy saying we are deleteing his posted in an unmoderated thread....fuck off.
And for the millionth time if you want to follow this coin closely and not ask the same fuckog question that has been answered a million times then join the fucking slack.
This guy and the newbies.... Substance in terms of development, structure and information are what will move this project up the list, people asking about these is a GOOD thing because when the answers come there will be people to notice IF you havn't frightened them all away. I'm sorry to break this to you but your feverish hopes / dreams / faith are counterproductive and do nothing but create more friction going forward, just take a step back, gather some patience and be polite to would be investors. The fact is you have little to show at this time, but as more trickles in you want people to be around to see it, NOBODY is interested in buying just because you want to make a million dollars from their money on ten of yours. I don't care if you don't buy XBY, others will. Its not my problem. And no one deleted his posts as everyone knows you can't delete unmoderated threads...the only people that can do that is bitcointalk mods and the poster himself. What are brain damaged defending someone who is lying? You still sound like the public boy who swallowed a dictionary by the way. lol And im not fucking anything to do with leadership team of this coin. Just an investor like you fuckwad. Do you think this coin needs you? Lo how entitled can someone be?lol. If a project is awesome like this is you need this coin...dont get things aroind the wrong way. |
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I'll stop saying sock puppets when every other post is from a newbie poster but apparently they have a complete knowledge of the crypto world and want a close source project...face palm.
And doctorG you can stop encouraging them in their bullshit, a guy saying we are deleteing his posted in an unmoderated thread....fuck off.
And for the millionth time if you want to follow this coin closely and not ask the same fuckog question that has been answered a million times then join the fucking slack.
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hey guys, how far along would you say you all are on a plan for scaling the infastructure of this coin? not just in terms of technology, but building a team and getting institutional backing. it seems all top coins have a pretty professional infastructure, and i'm curious as to how you guys are going to approach this.
You know what IF you claim to know so much about top coins and profession infrastructure then why do you use a newbie account? Dude use your real one. Newbies have no right to direct any direction of a project. Not him but am interested in an answer to that excellent question. You kiddo need to settle down. The coin is a few weeks old and you are asking about institutional backing. Even if you werent just another sock puppet that would be the stupiest question ive ever heard. Considering you personally guaranteed XBY would be top 20 by summer I don't see how a question about plans for scaling, building a team and obtaining backing would seem stupid? The question was not about scaling in tech terms but about professional infrastructure whatever that means. Teams are building built not. Join the slack. Backing? No idea what you mean. If people and companies use the tech later then cool but unless you have a crystal ball no one call tell. |
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hey guys, how far along would you say you all are on a plan for scaling the infastructure of this coin? not just in terms of technology, but building a team and getting institutional backing. it seems all top coins have a pretty professional infastructure, and i'm curious as to how you guys are going to approach this.
You know what IF you claim to know so much about top coins and profession infrastructure then why do you use a newbie account? Dude use your real one. Newbies have no right to direct any direction of a project. Not him but am interested in an answer to that excellent question. You kiddo need to settle down. The coin is a few weeks old and you are asking about institutional backing. Even if you werent just another sock puppet that would be the stupiest question ive ever heard. |
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